Brightpoint head higher after Citi issues upgrade, says handset recovery should help

October 9th, 2009 NEW DELHI - Mobile handset sales in India recorded a 6.7 percent increase to 100.9 million in the year ended June 30, as compared to 94.6 million the year before, according to an IT market intelligence firm. In terms of units shipped, Nokia sold the most with a market share of 56.8 percent, followed by Samsung with a 7.7 percent share and LG with 5.4 percent share in the 12-month period ended June 30, said a report by IDC's India Quarterly Mobile Handsets Tracker.

October 5th, 2009 Citi Wealth Management shifts to fee-based modelNEW YORK — Citigroup Inc. said Monday it is switching to a fee-based model in its retail investment business, eliminating commissions for its 600 in-house financial advisers by the end of next year.

September 23rd, 2009 Report: Citigroup to scale back US footprintNEW YORK — Citigroup Inc., one of the biggest recipients of government bailout funds, is looking to scale back its U.S. retail footprint to just six major metropolitan areas and limit most lending to wealthy customers, according to a published report.

September 14th, 2009 NEC, Casio, Hitachi to merge handset businessesTOKYO — Japanese electronics makers NEC Corp., Casio Computer Co. and Hitachi said Monday they will combine their mobile phone handset-manufacturing operations by April next year in a bid to boost their competitiveness at home and abroad.

September 3rd, 2009 Citi shareholders OK increase in outstanding stockNEW YORK — Citigroup Inc. said Thursday that shareholders approved a plan to increase the number of outstanding shares so it can complete a debt exchange program that gives the government a minority stake in the banking giant.

August 31st, 2009 Citi sells $1.3 billion in credit card assetsNEW YORK — Citigroup Inc. said Monday that it sold $1.3 billion in credit card assets as the bank reorganizes itself in the wake of government bailouts.

August 19th, 2009 Lockheed Martin gets $25.1M defense pactWASHINGTON — Lockheed Martin Corp., the nation's largest defense contractor, received a $25.1 million contract boost from the Navy for hardware to upgrade the Virginia Class attack submarine, the Pentagon said late Wednesday. The hardware will be used for a sonar system upgrade, which has already been integrated into the first 10 ships of the class as part of the modernization program.

August 6th, 2009 Telecom Italia 1H down 17 percentMILAN — Telecom Italia SpA says first-half net profit dropped 17 percent from a year earlier because of a shrinking customer base, lower handset sales and regulations limiting termination fees on mobile phones. Italy's largest telecommunication operator said Thursday that net profit in the period that ended June 30 was euro964 million ($1.38 billion), compared with a restated euro1.1 billion a year earlier.

August 4th, 2009 Savvis shares surge after Morgan Stanley upgradeNEW YORK — Shares of Savvis Inc. headed higher Tuesday after a Morgan Stanley analyst upgraded the computer network services provider saying it is ripe for a turnaround.

July 28th, 2009 WASHINGTON - Citigroup Inc's Indian American chief executive Vikram Pandit says he hopes to continue expanding the bank's business in the two biggest engines of growth in Asia, China and India, despite tough local restrictions. The bank wouldn't retreat from fast-growing Asian businesses even as the financial crisis has forced it to shrink its balance sheet by about 25 percent, he told Wall Street Journal in an interview at Citigroup's Hong Kong headquarters Monday.

July 21st, 2009 NEW DELHI - Minister of State for Communications and Information Technology Sachin Pilot Tuesday visited post offices in Delhi and NCR which had undergone upgradation under Project Arrow. He visited Patparganj post office for inspection and Ghaziabad head post office for interacting with its staff.

July 20th, 2009 GANDHINAGAR - The Gujarat government has sought a Rs.705-crore ($146-million) aid package from the World Bank to upgrade urban infrastructure in 10 townships, a senior government official said Monday. The official at the department of urban development said the amount, if sanctioned, would be used to upgrade infrastructure in the towns like Bhavnagar, Jamnagar, Junagadh and Veraval so that these areas could attract more industrial investments.

July 17th, 2009 NEW YORK — Citigroup Inc. surprised Wall Street Friday, reporting a $3 billion second-quarter profit instead of the big loss analysts expected.

June 19th, 2009 MasterCard names Citi Asia Pacific exec COONEW YORK — MasterCard says its new president and chief operating officer will be Ajay Banga, the former CEO of Citigroup's Asia Pacific division, beginning Aug. 31. Banga, 49, replaces Robert W.

January 6th, 2009 NEW DELHI - The Department of Telecom's (Dot) decision to ban mobile phones that do not have the international mobile equipment identity (IMEI) - a unique 15-digit identity code for handsets - has been deferred for 'some time', an official said. 'The order is still pending with the (telecom) ministry.